Highlights
The volatility of widely positions relative to the overall market decreased in April to send TD Ameritrade's momentum index lower for a fourth straight month, to 4.79 from March's 5.22 and February's 5.95. The firm's clients were once again net buyers with favorites including Netflix, AT&T, and also Spotify Technologies following its IPO during the month.

Definition
The Investor Movement Index, (or the IMX), is a proprietary, behavior-based index created by TD Ameritrade designed to provide insight into Main Street sentiment. The IMX measures what investors are actually doing, and how they are actually positioned in the markets. The IMX does this by using data representing the holdings/positions, trading activity and other data from an anonymous sample from six million funded accounts. These data are used to create a snapshot that can be monitored over time, or compared to other market indicators, to suggest the current sentiment of the real portfolios held by retail investors.
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